SPACE HELLAS S.A.
Annual Report 2023
5 FIGURES AND INFORMATION FROM 1
ST
JANUARY TO 31
th
DECEMBER 2023
SPACE HELLAS S.A.
GEMI:375501000
Mesogion Av. 312 Ag. Paraskevi
Financial statement and information for the period 1 January 2023 to 31 December 2023
The follow ing result s and information, that arise from the financial st at ements, prov ide a general picture of the financial position and financial result s of the SPACE HELLAS S.A.
Thus, w e suggest the reader, before entering into any sort of invest ment decision or other transact ion w ith the company, to gain access to the company's w ebsite, w here the financial statements can be dow nloaded, as w ell as the
Company Information
Board of Directors
Manolopoulos Spyridon Chairman, ex ecutiv e member
Prefect ure M inist ry of Development, Department of Commerce Chatzist amatiou Theodoros Vice President,non-ex ecutiv e member
Company's w ebsit e http://w w w .space. gr Mpellos Christ os V ice President, ex ecutiv e member
Date of approv al by the Board of Directors April 23, 2024 Mert zanis Ioannis CEO, ex ecutiv e member
Doulaveris Ioannis Ex ecutiv e member
Certified Auditor Accountant Dimos B. Pitelis (S.O.E.L. Reg. No 14481) Paparizou Anastasia Ex ecutive member
Auditing Company PKF Euroauditing S.A. Theodorou Eirinaios Independent - non-ex ecutiv e member
Ty pe of Audit or's report W it hout qualification Kaliani Anna Independent - non-ex ecutiv e member
Chatiras Emmanouil I ndependent - non-ex ecut iv e member
1.1 STATEMENT OF FINANCIAL POSITI ON
1.4 CASH FLOW STATEMENT FOR THE YEAR
GROUP COMPANY GROUP COMPANY
(c onsolidated a nd non-consolidated) Amounts in € thousand
31.12.2023 31.12.2022 31.12.2023 31.12.2022
(consolidat ed and non-consolidat ed) Am ount s in € t housand
01.01-
01.01-
01.01-
01.01-
31.12.2023
31.12.2022
31.12.2023
31.12.2022
ASSETS Operating Activities :
Propert y , plant and equipment
22.805 21.211 22.086 20.027 Profit before tax es (continued operations) 7. 413 5. 442 4.581 4.470
Rights of Use
3.423 2. 615 3.022 1.814 Plus/Less adjust ments for :
Intangible asset s
20.180 17.541 5.045 3.034 Depreciat ion 6.199 3.484 3.548 2.388
Other non-current assets
6.440 16.609 16.702 21.444 Provisions 378 -41 198 176
Inventory
16.722 17.381 16.550 16.820 Foreign ex change differences 459 -770 452 -761
Receiv ables (trade debtors)
64.122 55.366 59.392 51.591 Net (profit)/Loss from investing activ it ies -4.998 -44 -4.071 188
Other current assets
16.503 15.163 11.354 10.715 Interes t and other financial ex penses 8.704 4.962 8. 014 4.503
Cash and Cash equivalents
25.088 29.185 19.790 27.329 Plus or minus for Working Capit al changes:
TOTAL ASSETS
175.283 175.071 153.941 152.774 Decrease/( increase) in Inventories 762 -7.287 270 -7.150
EQUITY AND LIABILI TIES Decrease/(increase) in Receiv ables
-9.023 -10.553 -7.240 -12.482
Share capital
6.973 6. 973 6.973 6.973 (Decrease) /increase in Pay ables (ex cluding banks) 1.842 9.404 -789 12.863
Other components of equity
21.201 20.059 18.632 16.342 Less:
Total equity attributable to owners of the parent (a)
28.174 27.032 25.605 23.315 I nt eres t and other financial ex penses paid -7.691 -4.304 -7.077 -3.965
Non controlling interest s (b)
9 3.600 - - Tax es paid -187 298 -205 0
Total Equity (c) = (a)+(b)
28.183 30.632 25.605 23.315 Discontinued operat ions 90 87 - -
Long term borrow ings
31.091 47.919 27.561 46.260 Total cash inflow/(outflow) from operating activities (a) 3.948 678 -2.319 230
Long term prov isions / Non current liabilities
8.881 6. 164 6.153 4.309 Cash flow from Investing Activities
Short term borrow ings
Acquisition of subsidiaries, associat ed companies, joint
41.670 22.683 38.049 20.263 -6.300 -43 -6.300 -43
Other current liabilit ies
65.458 67.673 56.573 58.627 Purchase of tangible and intangible assets -11. 185 -7.341 -8.872 -4.228
Proceeds from sale of tangible and intangible assets
34 44 22 15
Total Liabilities (d)
147.100 144.439 128.336 129.459 Proceeds from sale of invest ments 11.800 0 11.800 0
TOTAL EQUITY AND LIABILITIES (c)+(d)
175.283 175.071 153.941 152.774 Interest receiv ed 322 0 309 0
Div idends received
0 0 438 1.226
Discontinued operations
-21 -56 - -
Total cash inflow/(outflow) from investing activities (b)
-5.350 -7.396 -2.603 -3.030
1.3 STATEMENT OF CHANGES IN EQUITY
Cash flow from Financing Activities
(consolidat ed and non consolidat ed) Am ount s in € t housand
GROUP
COMPANY
Proceeds from Borrow ings 27.511 30. 732 22.742 27.486
31.12.2023 31.12.2022 31.12.2023 31.12.2022 Payments of Borrow ings -27.852 -15.818 -23.655 -15.068
Total equit y in the beginning of the year (1/1/2023 and
1/1/2022 accordingly)
30.632 24.376 23.315 18.673 Pay ments of leases -1.458 -1.213 -856 -670
Total comprehensiv e income aft er tax es (continued and
discontinued operations)
4.697 6. 431 3.138 4.815 Payments for Treasury shares 0 -257 0 -257
Increase / (Decrease) of Share Capital
0 0 0 0 Div idends paid to shareholders of the Company -848 -775 -848 -775
Cancellat ion of ow n shares
0 602 0 602 Discontinued operations -48 -31
Other Changes
Total cash inflow/(outflow) from financing activities (c)
-2.689 0 0 0 -2.695 12.638 -2.617 10.716
Non controlling interest s
-3.609 -2 0 0
Net increase/(decrease) in cash and cash equivalents (a)+( b)+ (c)
-4.097 5.920 -7.539 7. 916
Div idends dist ributed
-848 -775 -848 -775 Cash and cash equivalents at beginning of period 29.185 23.265 27.329 19.413
Total equity at the end of the year Total equity at the end
of the period (31.12.2023 and 31.12.2022)
28.183 30.632 25.605 23.315 Cash and cash equivalents at end of period 25.088 29.185 19.790 27.329
1.2 STATEMENT OF CO MPREHENSIVE INCOME
Group
Company
(consolidat ed and non consolidat ed) Am ount s in € t housand
01.01-
31.12.2023
01.01-
31.12.2022
01.01-
31.12.2023
01.01-
31.12.2022
Turnover
148.078 120.663 123.603 110.337
Gross Profit
30.873 21.683 23.675 19.856
Profit before tax es, financing and invest ing activ ity
11.281 7.028 8.501 6.507
Profit bef ore taxes
7.413 5.442 4.581 4.470
Profit after tax es from discontinued operations
-91 261 - -
Profit after tax es (A)
4.804 5.020 3.146 3.332
- Owner s of t he par ent
4.786 4.685 3.146 3.332
- Non cont r olling int er est s
18 335 - -
4.804 5.020 3.146 3.332
Other comprehensive income after taxes (B)
-107 1.411 -8 1.483
Total comprehensiv e income aft er tax es (A)+(B)
4.697 6.431 3.138 4.815
- Owner s of t he par ent
4.679 6.061 3.138 4.815
- Non cont r olling int er est s
18 370 - -
Earnings (after tax es) per share - basic in €
0,7413 0,7256 0,4873 0,5161
Profit bef ore taxes, financing and investing activity and depreciation
17.413 10.512 12.049 8.895
Additional information
1.
The company's shares w ere list ed on the At hens Stock Ex change on 29-9-2000. The earnings per share w ere calculated based on the w eighted average number of ordinary shares in issue amounting to 6.456.530.
2.
The companies of the Group, the percentage ow nership and the consolidation method for the ending period are disclos ed in note 4.6.13 of the annual financial report of 2023.
3.
The tax unaudit ed years of the Company and the Group are disclos ed in note 4.6.30 of the 2023 annual financial report.
4.
The company has formed a provision for the tax unaudited years, for the amount of 61 thousand, in order to cover the possibilit y of additional tax es (note 4.6.30). No other reserv es are formed (note 4.6.28).
5.
There are no other disputed or under-arbit rat ion cases of national or administrativ e courts that may have a material effect on the Company's financial posit ion.
6.
There are no other real liens on non-current assets or propert y , ex cept, at the Company lev el, the underw rit ing, amounting to € 1.200 thousand, on the property sit uated at 6 Loch. Dedousi St., Cholargos, Athens, and the underw rit ing amounting to €
7.
The personnel employ ed by the Group on 31.12.2023 amounted to 771 persons, and by t he Company amounted to 589, w hile as at 31.12. 2022, they amounted to 844 and 582, respectiv ely .
8.
The same Accounting Policies have been follow ed as for the financial st at ements as at 31.12.2022.
9.
Not e 4.3 of the 2023 annual financial report refers to the comprehensiv e income aft er tax es for the company and the Group.
10.
The Group’s previous year’s amounts have been adjust ed in order to be comparable w it h those of the current y ear, as required by IFRS 5 (not e 4.8.1) due to the spin-off that took place in our subsidiary SINGU LARLOGIC
11.
Intercompany transact ions for the period from 1 January 2023 to 31 December 2023 according to I.A.S. 24 are as follow s:
GROUP COMPANY
a) Sales of goods and services 83 2.423
b) Purchases of goods and serv ices 67 895
c) Receiv ables from relat ed parties 5 735
d) Payables to related parties 8 241
e) Key management compensations 2.497 1.440
f) Receiv ables from key management 2 2
g) Payables to key management included in above 0 0
The company has guaranteed to financial institutions for bank credit limit for its subsidiaries up to the amount of € 28.730 thousand, of w hich € 10.541 thousand has been used.
CHAIRMAN OF THE BOARD OF DI RECTORS
SPYRIDON MANOLOPOU LOS
Agia Paraskev i, April 23, 2024
CHIEF EXECUTIV E OFFICER
IOANNI S MERTZANIS
CHIEF FINANCIAL OFFICER
AND EXECUTIVE MEMBER OF THE BOARD AND EXECUTIV E MEMBER OF THE BOARD
IOANNI S DOU LAVERIS
CHIEF ACCOUNTANT
ANASTASIA PAPARIZOU
298